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on 2." i'm tori campbell. >> i'm dave clark. >>> steve, should they take an umbrella? >> well, for a few, especially out towards -- maybe livermore to san jose. fremont. but after that, things are going to be winding down here pretty fast. not before some great rainfall from the north together south. coast all the way over. concord 1.7 0. livermore, 1.58. all associated with a very vigorous low sending one final band boy. is it moving fast and the wind is cranking up, especially in some of the higher elevations. some of things to come. could be a little bit of rain. a little blip there. there's a couple of around oakland, pede mawbt. had a good band going through from oakley, brentwood, antioch, to pleasant hill and livermore. it's starting to end to the north. around the altamont pass things are enhancing towards claudine wong. over towards fremont, sunol grade, milpitas, san jose. still getting a little bit of rain. temperatures are cooler. 49 now santa rosa. but the low is rapidly moving south. as it does, high pressure builds in. the wind will kick in. tomorrow we are talk
at the reflection from the streetlamp and the little bit of rain coming down. we'll be checking with steve to see, you know, where the rain's heading, if it's going to be hitting bait area today or not. good morning, welcome to ktvu morning news. i'm tori campbell in for pam cook. >> i'm dave clark. topping our news at 6:00, our long dry spell, at least in some areas may be coming to an end. rain is finally in the bay area forecast, just not as much as we expected. we do have live team coverage for you this morning, ktvu's alex savidge standing by live in sonoma county. sal, of course is watching the roads. but first let's check in with steve paulson with the forecast. >>> all right. thank you very much. very little rain up in the north bay and everywhere else it's just cloudy. now this afternoon things look better, maybe after noon or so this system might drop a little south. ukiah picked up a quarter of an inch of rain. 18/100 and 21 in forestville, 15, santa rosa 10. haven't had any reports from a couple other russian rivers. a little bit of rain trying to work its way in. there's not much to
castanedo is keeping an eye on the slick roads. we begin with meteorologist, steve paulson. >> all right, tori. thank you. >>> well, as you know, this year has been bone-dry. we'll take any rain we can get. there's a little bit moving through. not a lot. these un-- unfortunately, it's not continue use. these are just bands. in marin county, napa county, very light kind of intermittent. it's heading towards over san pablo bay and towards concord, east bay, highway 4. again, there's not a lot here. you see the light green. this is kind of a mist. maybe might goat a pocket or two. vallejo has had .01. duncan mills, it's been raining off and on lightly for about two hours. it looks like they are on a little bit of a break. but the russian river, all of that rain sometimes doesn't show up on the river. there is a lot of cloud cover. unfortunately, you know when you got a good front. this is not a good front. it's a lot of overrunning rain. we don't have the lift to give us a good rainfall. it can stack up if it continues and that that would be the face to the north. a lot of 50s to the north
been willing to testify against mr. steve cohen so the government cannot indict him. adam: i want to quote you from a national journal in september, 2012 you wrote the sec is settling cheaply with entities and ignore individuals of policy at parking tickets for securities fraud. you want to take that statement back? is this when we get the decision down the road? >> this is the department of justice today, not the sec be at adam: but everybody expects the sec to follow suit. speak out i think they are going to do that eventually. what i don't know is if the administration law judge hearing the case will grant a lifetime ban for basically failure to supervise your broker. it is one of the least serious of the sec offenses. they may get what they are looking for and eventually they're going to get mr. steve cohen out of the brokerage business. but i don't think in general has used very high penalties. the statement you quoted me was about the general sec behavior toward most financial institutions and even in the london will case you don't see the sec suing any individual offices. l
fund firm started by billionaire steve cohen does not close the door on future criminal prosecution of individuals at that hedge fund. now, sac capital has released this statement saying in part: we take responsibility for the handful of men who pleaded guilty and whose conduct gave rise to sac's liability. quote, the tiny fraction of wrongdoers does not represent the 3,000 honest men and women wolf worked here -- who have worked here during the past 21 years. sac has never encouraged, promoted oral tolerated insider trading. no outside investors. our charlie gasparino has been following the case from the very beginning, he will be here in just a few moments, he's running back from the courthouse to tell us what it all means for founder steve cohen and his future managing money. and maybe even some of the other firms that might be now in the crosshairs. the stunning market rally continues right now. the scorecard, s&p 500 up some 24% year-over-year. right to the floor show. the cme group, the nymex and the new york stock exchange. first, we really should talk about what's going on w
money. every time he played poker he brought a shoebox full of change. we called him shoebox steve. >>> let's move on to jpmorgan. that was over the sale of mortgage-backed securities covered by jpmorgan and bear stearns in 2005 and 2008. jpmorgan bought bear stearns. it was march of 2008. it predated the heart of the crisis being that it was in march but bear stearns was 2 bucks and ended up being $10. the larger question here is are they moving through all of the various fines, penalties, fees, settlements that they need to, can investors see through to the other side? they have put aside 23 billion for so-called litigation expense. jim, i start to wonder whether the continued -- i wouldn't call it an avalanche but the continued pressure from regulate are to regulators and all of the pressure points that they seem to be applying, one has to wonder whether we'll truly abate and get back to what we call real earnings power for these financial institutions. >> look, if we had normalized earnings and this is not a normal time, then jpmorgan would probably be 6, 7 points higher. all o
'm becky quick along with andrew ross sorkin and steve liesman, who is in for joe kernen today. o is enjoying a day off. our top story today, of course, it's retail. so we are lucky enough to have our industry expert dana telsey here this morning. >> thank you. thank you for having me. >> have you slept? >> i don't believe in sleeping, not when the stores are open. >> that's what we figured. we'll talk more to dana in just a moment. at least a dozen retail chains opened their stores yesterday. it did make for some big thanksgiving day sales. overall, the national retail federation expects sales to be up by 3.9% during the last two months of the year. that is higher than last year's 3.5% growth. but it's below the 6% rates that we saw just before the recession. and whether you hit the stores yesterday or not, plenty of people are out this morning. if you are planning on waking up early for your black friday sales, you're late. step et up. shoppers are expected to spend an average of $650 this weekend. that's 11 1% more than last year. we have the chief merchandising officer at toys
day. i'm tori campbell. >> i'm dave clark. we're gonna check weather and traffic. >>> steve, how are we looking? >> foggy. some higher clouds up to lake county. low clouds will be with us at noon. high clouds, turning mostly cloudy. the big news are definitely the low clouds and the fog. a lot of tropical clouds on their way but they are taking more of an aim towards seattle and portland, maybe you can smell some of that smoke from the scrap yard fire. had reports in fremont, oakland, palo alto, menlo park, seems to be decreasing. napa, 39. there's a lot of 40s here. even 55 oakland. 54 san francisco. mostly cloudy here in the morning. kind of a mild start. due east wind. almost everybody has a due east wind and kind of a mild pattern in the hills. i've seen 56 to a 9. high pressure is still over us. some of these higher clouds will drift through. overall, morning fog, then high clouds. kind of a mix of sunday and clouds. and then turning cloudy. combination will give us a mixed pattern. here's sal. >>> we've had problems this early commute. we've had a crash in san francisco. we
your weather and traffic. steve knows the forecast. >>> a lot of fog and reports coming in. thank you for the twitter updates. fog forming in livermore. the east bay was excluded earlier from the frost advisory, but i will throw it in there just because. a lot of high clouds. not only here but all over. the big news is dense fog advisories until 9:00. again, the fog is forming in the east bay. there is really thick fog from santa rosa to oakland to san jose. some areas don't have any, but others it is like a wall of fog. we get a lot of areas with dense fog. fog near the coast. hazy skies today. a little cooler. 40s and 50s on these temps now. some of the inland areas unseasonal warm yesterday will continue to warm up. most location will be in the upper 60s to lower 70s today. you can see the bands of higher clouds. a beautiful sunrise. mostly sunny here, partly cloudy to the north. morning fog and the frost advisory until 9:00. 60s to low 70s, and low 60s closer to the water. >>> westbound 08 traffic will be busy. let's start a look at the bay bridge toll plaza, backed one a 2
. welcome to "mornings on 2." i'm tori campbell. >> i'm dave clark. >>> steve, it doesn't sound like it's too bad. >> no. a lot of high clouds. cold inland. the higher clouds are holding up the temperatures. it will be a mix of sun and high clouds as temperatures stay in the 60s. starting off 40s, 50s. it's 50 in san francisco. san jose is at 44. but the higher clouds continue to drift in here from the associated low kind of spinning in some. but it's heading towards southern california. it's going to go parallel to the coast. we just get a few high clouds here. temperatures on the mild side in the afternoon with this hazy sunshine. at least for some. cool for others. but rain moves towards southern california tomorrow. we'll get partly to mostly cloudy skies. that high cloud and a little bit of filtered sun. mild to warm. a chilly, but cold morning. here's sal. >>> steve, good morning. right now we're looking at a commute that's lighter than usual. we have trouble spots. this is a look at the eastshore freeway. you can see traffic is moving along well heading out to the macarthur maze.
with the trader reaction. and $40 billion in asset management. we will get to steve in a minute. but which specific line moved to market the most here? speak out it is this one, many members stress data dependent asset purchase program and some pointed out if economic conditions warranted, the committee could slow the pace of purchases at one of its next few meetings. and got into the weeds of the labor market, but the october 30 meeting was before we got the october jobs report which showed substantial upward revisions in the september jobs payroll jobs numbers, so perhaps the markets were little bit spooked maybe the data would be coming in a little stronger than they had before. tapering may be on the table the next meeting in december, who knows. liz: there is the december meeting. whether the u.s. dollar. moving to these reaction. you had a front-row seat to the generations here. >> we saw them in stocks and the dollar index. 81.1, it did rise after those minutes were released. that is the highest since september 17 after fears of a possible paper. we are hitting those highs. three ba
will replace outgoing ceo steve ballmer. josh lipton live in bellevue, washington. >> reporter: it was an historic day at microsoft shareholder meeting. the last meeting with steve ballmer as ceo. ballmer's record at microsoft is mixed. revenue jumped but critics say he mixed big tech trends like mobile and social. stock is up sharply this year but down 25% under his watch. bill gates at the shareholder meeting today gave no guidance for when a new yi would be picked. he did seem to get choked up when talking about his friend, steve ballmer. >> we've got a commitment to make sure the next ceo is the right person for the right time for the company we both love. and we share a commitment that microsoft will succeed as a company that makes the world a better place. >> top picks to replace ballmer mentioned, ford ceo allen mulally and former nokia ceo elop, as well as kevin turner, coo and nadella of cloud and shared enterprise. microsoft made a point of emphasizing their cloud products. whoever replace ballmer and strategis, the new ceo will face new challenges as microsoft reposi
, steve liesman and rick santelli. and plus bars and ton. is rick santelli there or is that him there? >> i'm here. >> steve liesman, let's start with you. what did the minutes say that spooked the market? >> that a taper is coming in the coming months if the economy performs according to the fed's forecast. that forecast is for a gradual improvement or acceleration in growth to 2014. not necessarily expected at the end -- in the fourth quarter because you'll probably get weak growth. that's why i would rule out a december taper. that it's coming in the coming months and the fed is looking for a we to do that in a way that doesn't cause the market to bring forward when it would raise interest rates. >> what does that mean about investing? what did you hear as an investor trying to allocate capital across? jason pride, jump in there in terms of allocating capital. what does this mean to you today, the minutes? >> one of the most important things people keep missing is the fed needs to taper in order to remain as stimulative as they have been before. one of the things that is coming abo
accolades. steve ballmer is somehow more reviled than revered. one that with $300 billion in market capitalization has to be considered a success. and this is not just within the industry. this has become a pop culture thing now. on last night's episode of "south park," ballmer's assassination by an angry and disappointed bill gates was a major subplot. not only is steve ballmer viewed as a failure in his time at microsoft, he's sealed his deal where he says he recognizes that he's the person standing in the way of microsoft's progress. quote, maybe i'm an emblem of an old era and i have to move on. what was keeping microsoft from succeeding in this new world? quote, at the end of the day, we need to break a pattern. face it, i am a pattern. and so even he admitted it was time to go. was ballmer too hard on himself? not to execs i talked to at dream force. to them he is a befuddled fool who didn't see cloud, didn't see social, didn't see mobile coming. and he thought he could ignore it or somehow build it all into xbox one. what i would ask these executives offline, what is the bigg
weather and traffic. steve has your forecast. >> i do indeed. the big message today and all the twitter responses coming in. oh, my gosh it's cooler out there. the highs 58 to 60. lows in the 40s. it feels colder than that to me. a system that's clipping the sierra nevada is responsible or you can blame it, thank it whatever you want to do. there's a hint of fog, but most of it i think is going to get wiped out pretty fast. 34 at the napa airport. a little breeze. there are a lot of 40s and you throw the breeze in, oh, my goodness, that's cutting through me. san francisco will start at 50. i've seen upper 40s. and a high of 62 in san jose. to 44 degrees. only a high of 65. the highs coming down from the seasonally warm temps we had a couple days ago with mid- to upper 70s. it it will be sunny. it will be breezy and it's going to be cool as well. temperatures, only patchy fog in the morning. i don't think it will last very long. a lot of 60s. mainly mid-60s or upper 60s. i don't think they'll feel warm. >>> good morning, traffic is going to be a little bit slow in some areas. watch for s
in the bay area. to tell you where the showers are right now, let's bring steve in. >> things are pretty quiet right now. we're in between systems. it's kind of cloudy right now. maybe some fog. developing low is beginning to pop up here right off the mendocino coast, sonoma coast. maybe rain moving back in for point arena, fort bragg. that will develop later on for us. for everyone else by this afternoon, it's also going to give us a possibility of some shower activity. a couple of systems coming together. the low is on its way to southern california but not until tomorrow. until then, it could get sunny. things are quiet in the rain department. we had .75 to 2 inches for some, especially up in the russian river. things are calming down. they are not done yet. you get a good look at the system as it starts to pop up right there. it's on way its. that will set the stage for maybe some thundershower activity. right now, it's cloudy. could be sunbreaks for a while. highs today starting off in the 50. will only be in the 50s or 60s. here's sal. >>> we're looking at a tough commute because o
. steve, what kind of weather are we gonna have? >> high clouds, spare-the-air day. a lot of these higher clouds are holding some temperatures up. there are some 30s for some. 50s for other. sfo is 51. san francisco, also 51. mild for a few. but cold for others. 50s are not that bad. you can see the high cloud deck filtering across. it will be with us probably most of the day. look for filtered sunshine here. a nice sunrise. that's for sure. but a partly cloudy/mostly cloudy day. temperatures, though, really kind of warming up a little bit, especially toward the santa clara valley. we'll end up with 60s to near 70 on some of the highs, especially santa cruz and also girl bil roy. a lot of these higher clouds mean a very fair, hazy day. this will gave to partly cloudy skies tomorrow. 60s on the temperatures to a few upper 60s. here's sal. >>> good morning. right now we're looking at a commute that is doing pretty well especially for this time of the morning. i have to a dealing -- i have a feeling it has to do with this bebeing -- with this being thicke weekend. bay bridge toll plaza is ba
to "mornings on 2." i'm tori campbell. >> i'm dave clark. >>> we're gonna check weather and traffic. steve? >> it's cold. a lot of cold readings. 30s all over the place. a few upper 20s. it will be sunny today once we get cranked up. it just takes longer this time of year. 30s for many. fairfield, 54 because they have a northerly breeze. antioch, brentwood, pittsburg held up because of a little breeze. there's a lot of 30s around. san francisco, i did see 43 in west portal. officially, 49. 64 for a high today. in the bay area hills maybe out to the valley as well. there will be a little bit of a breeze. some locations picking up a breeze. sunny, breezy. if there's no breeze, your temperatures are in the 30s. it will rebound. it's a slow process this time of year. today through wednesday, might get an offshore push. just enjoy it while you can because the days are getting very, very short. clear skies after yesterday's system went through. it set the stage for a cold morning. that north breeze favoring areas in the higher elevations. highs today, a lot of 60s. low to mid-60s by the water. h
of player misconduct. he has been accused excessively hazeing a fellow teammate, jonathan martin. steve harrigan joins from us miami. steve, there is more revelation that is might trouble people coming out about the suspended lineman. what do we know about this? >> certainly some more troublesome video coming out about richie incognito taken earlier this year with a group of teammates at a fort lauderdale bar called dirty blondes. images show incognito stomping around bare chested and using the "n" word in relation to another teammate who is present and appears to be laughing. more scrutiny of incognito's history as we, being kicked out of programs at university of nebraska and oregon and let go by the rams after fighting with the coach in 2009. i was voted dirtiest player in the nfl. he has been suspended indefinitely after discovery of racist text messages by the dolphins management. that management really wants to get to the bottom of things right now. owner steve ross called for an independent investigation by the nfl. the coach of the dolphins is on the hot seat but as far as the p
model companies look for business opportunities. >> reporter: steve is a venture capitalist whose firm has invested tens of millions of dollars in space x, a california rocket maker, and provider of launch services founded by tech entrepreneur elion mosk. nasa is paying space x a billion dollars to reply-- resupply missions to the international space station. in may 2012 space x became the first private company to launch a mission to the space station. the milestone proved the company could build and launch rockets reliably and cheaply. >> and capture is con termed of this dragon spacecraft. >> many of these new space companies are being built by software engineers. and folks at space x didn't come from aerospace, these are computer scientists by training. time and time again it has prove ten is the hot bed of prn entrepreneurship. it invents new industries and part of it is the culture, willing to take risk. >> reporter: part of it may also be a high-tech approach to innovate industries as dan berkenstock and its team are trying to do with satellites. >> a typical imaging satellite to
," once again. i'm tori campbell. >> good morning. i've dave clark. >>> steve, you have things to talk about, too. >> windy for some. not for all. rather breezy, blustery day. a few low clouds make for a nice sunrise. overall, it will be sunny. blustery, breezy. temperatures are just rarin' to drop. they are being held up by the breeze. wind advisory, still 40 to 50. strongest gusts above the call cut -- caldecott. these are overnight. blackhawk, 45. fairfield, 46. santa rosa, 53. petaluma at 55 miles an hour. still 25 at fairfield. concord, 10. napa, 18. that's coming down. the relative humidity, 6%. that's how dry it is. it's mainly a north-northeast wind. only san jose. now a little bit of a northerly breeze there. 40s and 50s. 45 santa rosa. i mean, they could easily drop if the wind stays down. it's been debrees ceasing a -- decreasing a little bit. the strong low in southern, arizona. breezy, sunny. a few clouds around. maybe a few low clouds. it will be mostly sunny today. temperatures, again, the forecasted highs, i've seen 12, 15-degree differences between some of the projecti
? steve? >> a spare of the air goes until midnight. the high pressure is here. it's kind of parked itself near us. not much of a breeze. hazy skies. everything, as you can see, as far as cloud cover, the bend in the clouds, that tells you where the high pressure is. the dome of it. it's there. oh, baby, it's cold. 32 napa. a lot of 30s. a bunch. maybe a breeze or a patchy fog holding some of that. in san francisco, it's in the upper 30s or 40s. 34, santa rosa. not far away, i've seen 32. there's couple of upper 20s as well. it's a cold morning. san francisco, not as bad. component of an easterly breeze. 48 and then a high of 62. high pressure says not today. it's going to send everything up and over up towards vancouver and seattle which means we have a lot of sunshine here. as you know, the days are short. cold morning and then sunny. but hazy, patch or two of fog. not a bunch. but there's a little bit around. highs will be in the low to mid- 60s at best here's sal. >>> we're looking at a commute that's slightly different today. it's a little bit lighter in some areas but we've had so so
. >> good morning. i'm dave clark. >>> let's go to steve. >> all right. thank you. a very happy friday morning. very foggy friday morning for some, not for all. it's not widespread. but it's definitely back. it's way down there. right on the deck. if you don't have the fog, it's cooler on the overnight lows. 38, napa. a lot of 40s showing up instead of the 50s. the fog is reducing visibility to an eighth of a mile or a quarter of a mile for some. san francisco, nicole in the marina says very foggy in the bay. watch out for that. oakland, bay bridge, kind of dances around a little bit. we'll go for 62 in san francisco today. even oakland will cool down. fog for some, not for all. it will be hazy and warm if you are inland today. it looks like the weekend looks pretty good here except we'll have a garage actual cooling trend. a pretty big spread between the coastal temperatures which are just amazingly warm again for this time of year. a few mid- to upper 70s. 50s, 60s closer to the water. here's sal. >>> we're looking at traffic that's busier. some commutes already seem to be friday lig
as a real problem at microsoft. they announced that steve balmer, the ceo, is leaving, and now it's some gigantic guessing game, and we have to make graphics with nine different people's faces including alan mulally, and i don't think that's good for the stock. would you do it differently where far in advance today telegraph who the successor will be? >> so, liz, a series of questions. first of all, i said a year ago i'd be here for 2-4 more years, that has not changed. we said six months prior to letting the change we'll let the street know what we're doing, and we will do that. in terms of timing, you really want to think about i want to get us through this slowdown. i actually think we're going to go through it faster than most people think, and we think it's largely macro although there are always areas we need to do better, and we're all over that. we have the breadth and depth of a leadership team that i'm so proud of, and they've actually gotten stronger through these bumps. whether it's as quickly as a year from now or two years from now, we'll have a leadership team that makes t
report. gooming. i'm tori campbell. >> i'm dave clark. let's check weather and traffic. steve, this is a tricky forecast. >>> definitely on the lows. a lot of sunshine today. mostly sunny. high clouds to the north. but the lows anywhere from about 33 to 58. just depends if you get the east or northeast breeze. the forecast calls for clearer skies but the lows can be cold. a couple of blocks away they can be mild. mostly sunny, sunny. it will be warmer today. there's still the component of an easterly breeze. livermore, 60. concord, 40. i just saw -- hayward says 48 not far away. newark, though, 38. there's some crazy lows. cold to mild to warm lows. that northerly or easterly breeze not as strong as yesterday. santa rosa will start off -- i mean, the frost advisory never materialized in the north bay. we'll go 75 in the north bay along with santa cruz and vacaville. interesting, we'll have sunshine. probably the warmest day of the week. a little breezy for two. it will be warmer. if it's cold, it will rebound. if you are sitting at 60, you are talking about, what do you mean c
signatures supporting the move. league lawyers say critics of the nonprofit status are "misguided" steve job's legacy is "parked" in history. the garage where he and steve wozniak started apple has been named an historic site. the silicon valley structure built in 19-62 is where steve jobs grew up. it's owned by the jobs trust. the "jobs" garage is only 10 miles from the gargage where hewlett- packard got its start. it was granted landmark status in 2007. india launches an unmanned mission to mars today. the $73.5 million project is the nation's first interplanetary probe. if successful, the orbiter will reach mars in september of 2014. still to come... from humble beginnings to a sought after stock.... we track one of the fashion world's most sucessful ipos. plus...would you buy twitter stock on day one? you might want to hear our upcoming report before deciding.... and straight ahead...if you thought the housing crisis was over....think again. we'll be right back. ♪ ♪ ♪ ♪ ♪ the housing crisis is far from over for some americans.. joining us now-- to take about the collateral dam
. >> it is about steve cohen and it is steve cohen. this is fascinating. steve cohen has not been charged with insider trading but the day after sac pled guilty, paid $1.2 billion, steve cohen remains under investigation, the next day chris christie won overwhelmingly new jersey governor and guess what he did? he personally called steve cohen to come to his big gala association and attend a private dinner. now there is nothing illegal about that. but this is now raising eyebrows from people, republicans who saw him at the event, from people starting to make its way around the political analyst circles where they're saying this is incredible fodder for anybody that runs against christie in the future, particularly if he goes up, if he runs for president in 2016, this could be a campaign commercial. this is what we know, christie personally invited him. heard through the grapevine steve cohen following the monday plea deal was depressed, wasn't feeling very well. told him to get, quote, his rear end off the couch from what i understand. that is direct quote from somebody and attend the even
by tomorrow. the driest year ever. look for temperatures in the 50s and 60s. here's sal. >>> steve, good morning. we're looking at a commute that's just average. some areas are not doing well. but others are better. it's kind of averaging out into an okay commute. for example, if you look at 880 here, it's looking pretty good near the coliseum heading up to downtown oakland. when you get to the bay bridge, we don't have a super-huge backup. it's backed up for a little bit. the 880 ramps are the best way to get there, especially if you have fastrack, you will be able to bypass a lot of that traffic. 580, that's a different story. 580 in livermore has been slow the entire way from the altamont pass all the way through. we had a crash on 680. that has traffic backed up into san ramon, heading south towards pleasanton. it gets better if you are on the road after pleasanton. but the traffic is not that bad on 680 and fremont. 101 southbound near belmont we've had a series of collisions. 7:03. back to the desk. >>> all right. thank you, sal. >>> police in santa rosa are asking for the public's
the weather and traffic. >>> steve? >> we have clear skies except for some fog mainly from about point reyes north where there's very thick fog. but south, things look good. we start out with clear skies. pacifica, clear 48. el granada, clear. maybe some fog. maybe you can look out and see it, but it's to the north again. sunny, warmer today. there is a slight component of an easterly breeze for most. it will be cooler and breezy as we wet to friday and saturday. but today and tomorrow, mostly sunny and warmer. more 40s than the mid- to upper 50s yesterday. we had cloud cover 24 hours ago. this morning, under clear skies except for some of that fog. we'll have a lot more 40s and 50s. it will be sunny and warmer for everybody today. maybe a few high clouds drifting by the north bay. it's a dry, stable pattern for a couple of days here. we'll see changes as we get a good low dropping in the east of us as we head toward friday and saturday. sunny and warmer. patchy fog near the coast. we'll have a warmer afternoon. temperatures with a few in the mid-70s. here's sal. >>> steve, good morning. we
president bush also with us our own steve liesman. gentlemen, good to see you. >> good to be here, maria. >> explain the theory. >> well, look, if obama care fails because of the website, well, then that's terrible for the president. let's say it succeeds and give it the benefit of the doubt and say the president is right and 30 million people sign up, and they start getting insurance, but they start paying premiums. those premiums maybe they'll be a bargain, $100, $200 a month. >> they haven't been a bargain. i see your point. >> let's give the president all the credit and say it's going to work. that's by my calculations about $77 billion of spending by consumers that they won't have to spend at mcdonald's and target and ford motor -- that's a lot of money. more than the president's stimulus plan spent on infrastructure or for tax cuts. it could be in an economy right now where consumers look a little bit shaky, it could be just enough to dislodge us from this tentative recovery. >> steve, you on board? >> not exactly. and i question todd advisedly because he's taught me about economic
. simon baker is here along with steve weiss, joe terranova, and stephanie link. stephanie, on a year when the health stocks have done well, health care is the second best performing sector out of the s&p 500 this year. i'm wondering what your thoughts are, and what happens with the stocks? >> i don't think anything he said is a surprise. you have to expect the blame game comes out of washington on both sides. this is a mitigated disaster. the insurance companies budget at least a year in advance. so they're a little offsides in the budgets. at the end of the day, i don't think it matters. maybe you see them reset expectations next quarter or pre-announce, in terms of reduced expectations, but you still need to be in a group that continues to grow, whether the economy is growing or not growing, so i like it. more importantly, what this did was, it sort of casted yellen in a shadow, and that was by far, to me, the more important conversation today, what she was saying. >> well, yellen certainly has had somewhat of an impact on the overall market today by virtue of taking what most people ex
an impact on employment and how many hours workers are getting. steve liesman with the story. >> thanks. this poll conducted by public opinion strategists, which does the polling for cnbc the republican half of our polling team, did this poll on behalf of the international franchise association and the u.s. chamber of commerce. find a very negative impact right now on businesses and employment from the affordable care act. let's take a look at the graphics. 64% of franchise and 53% of nonfranchise are saying the aca is having an impact on their business. you might expect that but now let's take a look at what they're saying about specifically how. they say because of aca, 30% of franchise owners have replaced full with part time about 15% have seen reduced staff and more than 30% have reduced worker hours. this has potentially huge neck negative impact on employment. one other piece of data. asked if they would stay below 50 workers. 59 % of franchise owners and 52% of nonfranchise owners. there's a lot of debate about this. unclear whether or not it shows up in th
and traffic. steve, i like the sunshine you showed us. >> we have nice sunshine. very mild for tomorrow. only a couple of 30s. a loet of 40s -- lot of 40s. san francisco temperatures are on the mild side from 50 in kohl valley to 56. financial district, south of market, some mid-50s. eureka valley, lower haight, potrero hill, 50s. higher clouds. it will be a little warmer today for some. especially towards, i think santa cruz, which i went for 80 degrees down there because they do have an offshore breeze. the east breeze should hold everything in check. mostly sunny, partly sunny at times. but 60 to 80. many locations will be in the low to mid-70s of the here's sal -- mid-70s. here's sal. >>> all right. the chp says there were two separate crashes. that motorcycle you see right there was driving down and may have hit some concrete debris as a result of the crash. the newschopper2 is about to show us it as he pans left. you can see the original crash northbound on 101. we're coming up to it here. it was an injury crash. it took out some of the guardrail, yore turned vehicle -- overturned vehi
a listen. >> steve it's great setting things up. those guidelines are for the control room. >> joe is right. after having been a print recorder 30 years, i lean on the written word. >> it's getting it organized. >> i have no time for organized thoughts. >> that we know. >> let's welcome our guest hoist bill george. he's currently at harvard business school. bill, we're so glad you're here. so many things to talk about. let's start off you by what steve was discussing. what's happened with the fed? what do you think will happen? >> i'm a fan of bernanke. in my opinion he saved us in '08. we have no fiscal policy in this country. he's trying to off set the monetary policy. he's gone as far as he can go. we've got to pull out of this. i think they'll keep interest rates low. >> you say you're a fan. are you a fan of what's happening now? >> we have an imbalanced economy. we're hanging on for dear life trying to get the unemployment down. i think there's too much money in the economy. it's eventual got to come out. they're not going to do hit with unemployment rates. >> are they paying too much
hercules to richmond. b.a.r.t., caltrain and muni are reporting no delays. now, let's go to steve. >>> thank you sal. under clear skies, a little hint, just looking richmond, outer richmond, sunset even over on san francisco state, winds are easterly. there's fog off the coast. but it's staying off the coast. let's focus on the rain or the lack thereof in san francisco, 0, nothing, in october that's the first october that no rain has fallen on san francisco since 1980 and the 14th time in 160 years of o weather keeping. 9 -- of weather keeping. the odds are favoring dry, but i remain steadfast we'll see rain in november. and we'll get blustery cooler conditions on the weekend. today it's sunshine and warmer temps. tonight it will turn westerly into tomorrow. we get that offshore push. had that yesterday, we'll have it again today, which means nice conditions by the beaches. the fog is there. it's rare. it wants to touch the san mateo coast but it can't. 39 here half-moon bay. there are cold readings under clear skies. this system is poised to make a move toward the pacific northwe
's an incredible car. >> it's not just the shape of the car. they did things like steve jobs. you know, form follows function or whatever the old, you know, architectural strategy. the guy is like jobs to come out of nowhere. gm and ford and all the others they've been trying to come up with this for so long. i see what he's saying. if you've got a gas tank with 30 gallons worth of gas and you're in a bad accident, that's scary. but then there are these batteries, apparently -- >> and the distributor -- >> distributed across the whole bottom. does any little, you know, does any crash -- >> consumer reports comes out and says it's the safest car they've ever tested. >> this is interesting. we'll see what kind of conclusions these -- and you know, when you test cars, you see those, you know, crash dummies and stuff. you see how hard -- and it's scary to watch because even 35 miles an hour. >> are they really smashing up teslas, though? >> it's only the government, we can afford it. >> consumer reports. >> consumer reports. >> but when they test. >> yeah, well, they, i'm sure are. >> money to b
'm dave clark. let's check weather and traffic. steve's right over there. >> thank you. we do have some high clouds over us. it looks like they are beginning to fill out. a few 40s but nothing compared to a couple of mornings ago. we had a lot of 30s. some locations, san francisco still in the upper 50s. it won't take much although the higher clouds, a little puff of a westerly breeze will bring the temperatures down. sun and clouds here. cool, mild, warm. mostly sunny. higher clouds will ease out. you can see we're almost on the back side of a few of these. high clouds, mostly sunny. very calm conditions. maybe a hint of a north breeze. more of a werl later on -- westerly later on. here's sal. >>> good morning. we're looking at a tough commute on this thursday. traffic is going to be busy all over the place. we'll start off with the bay bridge toll plaza. live picture of the traffic here cueing up. it's backed up for about a 25, 30-minute delay before you make it into san francisco. lower peninsula looks good now but, of course, that will change this evening. you should plan ahead. 101
and democratic strategist steve murphy and former white house press secretary arrei fleischer. i think you won't disagree in a this thing is a bad scene. the question is, what should democrats do if you were counseling them how do they dig themselves out of this mess? >> we have to make it work. we have got to get the problems fixed so it works as it was originally intended. it's not just the website getting fixed. it's the basic concept that has to fulfill -- be fulfilled according to plan. it is this why i disagree with what you said about california being bad. that's good for the future of obama care for two reasons. a one year extension as the president proposed, the states that will implement that are just kicking it into the time line of just the next election. that won't help us politically. and number two, we need -- those substandard plans under obama care, they have to go away for obama care to work. they have to be eliminated. we have to get the healthy people paying for a full plan. >> i think you were on a roll until you hit the last sentence or two. because ari fleischer, i have
of numbers. >> holy cow, a busy one. >> we could have a settlement between the government and steve cohaan's capital. that story is coming up. >> are more people trading in their old tablets? we will talk to the ceo of gazelle. >>> back with "squawk on the street" live from post 9 in just a moment. nes investment management & investment servicing, giving us unique insights which help us attract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. easy-to-use platform. no, thank you. we know you're always looking for the best fill price. and walk limit automatically tries to find it for you. just set your start and end price. and let it do its thing. wow, more fan mail. my uncle wanted to say thanks for idea hub. he loves how he can click on it and get specific actionable trade ideas with their probabilities throughout the day. [ male announcer ] open an account and get a $150 amazon.com gift card. call 1-888-280-0149 now. optionsxpress by charles schwab. a
ining develop. joining me on the telephone is steve parsley, a boeing crane operator who's been with the company for 24 years. he voted against the offer made to the union last night. steve, thanks for joining us. >> you're welcome. >> why did you vote no on the plan that union pushed before you last night? >> it's just too much concessions. it's an ultimatum for us. and if we concede on this, i see it happening again in the future. >> what do you mean you see it happening in the future? >> if we had accepted this contract offer, who's to say boeing wouldn't come back in two, three years from now and give us another ultimatum on a different airplane? >> what are the options? i mean, what is the alternative here if boeing is trying to do something and make sure it's watching its cash? initially it was supposed to -- it was threatened to actually close down the plant. >> boeing -- excuse me. boeing has threatened that or something similar every time to the machinists. if they want to negotiate and not just put forth contract offer and call it an ultimatum, we're willing to negotia
sales apparently unaffected. >> gasoline, steve liesman said not spending as much on gasoline, we're biography sweaters. it's true. if you looked at it empirically, it's apparel, a little more money in the pocket, not going to walmart, stepping up a little bui bit higher. >> down here at the big board, nuskin enterprises and over at the nasdaq, advanced energy. >> and nuskin, you do personal care and you push it, this is the opposite of avon in terms of performance. people betting against nu skin have not been rewarded. >> jcpenney a winner out of the gate, up more than 9%. your story, you'd rather by pvh. >> i'm not about surviving. i'm about making money. >> about thriving. don't survive, thrive! >> if they're doing well, what is terry lundgren doing at macy's? just putting points on the board. pvh is going to go much higher. i think the calvin klein deal is going to pay off dividends. >> lowe's, second biggest loser. >> disappoint ing. >> and smuckers, after kelloggs and campbell's soup, something's going on in food. >> campbell's soup, they talked about how disappointed they w
warning flag. steve bernas is president and ceo of the bbb of nothern illinois. i was astounded at what customers can pay through the rent-to-own process. > >most customers are astounded by that. they don't realize that sometimes you can pay double of what it would cost you if you bought it outright first with cash. people have to be very careful and read the fine print on those contracts because they soemtimes lock you in sometimes through long term contracts. > >and some consumer groups say that the people least able to pay these high fees are the ones who are typically doing that. > >exactly. the advertisements are geared to those people that can't afford it unfortunately---the people that can't pay cash or don't save up for it. so you have to be very careful. it sounds good but you can end up paying double. > >for short term renting, it's probably okay as long as you return the tv set? > >short term is okay but it's gotta be very short term. and most consumers don't go full term with those contracts so be very careful how long you go. make certain that you can afford it as well. > >
be able to manage money belonging to steve cohn, the founder, certain employees and his family members. >> hey, kate, couple questions this morning. one is this doesn't resolve any potential criminal liability for steve cohn, the man himself, is that true? >> well, let me give you a dual answer to that. i mean, i guess it doesn't, although i think if they had the material for a criminal individual case against cohen, they probably would have brought it at this point. now they continue to try current and former traders. in two weeks from now we'll see the trial of michael steinberg and i assume the fbi continues to try to turn witnesses against him. so i think you can't rule that out in the future, but i would probably not expect it at this point. >> the only reason i ask is because if you remember and you remember so well given -- now we're talking about a $1.8 billion settlement, 600 was already from a prior settlement, some people meant the whole thing was over. here we are they would argue we're sort of double dipping. it seems to me they're taking a second bite at the apple, why no
mentioned he's the author of the best-selling book steve jobs. and walter, we are dying to hear your thoughts on obama care. we've been talking about this a lot this morning. trying to figure out where we are in the situation. you're a big thinker. where do you think things stand at this point? >> well, i love the conversation between joe and governor markell. because in some ways both are right. this is an absolute disaster when it comes to showing can government do something big? we watch airlines merge and private industries and they're trying to get reservation systems right and takes three or four months of a bad flying summer. this one was difficult. but i do think and i know you'll push back on me that it is a problem the way things were before. two things, the fee for service which y'all talked about but also kids in their 20s. kids my daughter's age, they want to join start-ups, they want to be independent. employee, you know, health care is really something we have to get away from. people need to be able to go on to market and buy insurance. well, is this the best way to d
shareholder meeting in a little more than an hour or now, as steve ballmer gets ready to exit the tech giant. talked a lot about ballmer yesterday in that interview with the "journal." >> that was the topic of much conversation out west. drew halston from drop box talking openly about the idea that steve stood in the way of progress, marc benioff saying how he recognized the impediment to microsoft is himself. a lot of soul searcher out there. >> some other soul searching going on among ceos of fortune 50 companies, they looked at what happened with mr. ballmer where he expressed a bit of ambivalence about staying in this job to his lead director and they were like great, thanks. >> wow. >> and i've been hearing that those kind of ceos or any ceos, whether it's activists or just in general sort of wondering whether their board is going to turn on them are definitely seeking advice on how to prevent that from happening. >> this is a revolution. boards are supposed to be rubber stampers. >> not anymore. not as much. you still see some but there has been a change. >> abercrombie's board? >> you
reinstitute that in the united states is nuts, but that's just my view. i want to bring in steve conover. you've got pretty impressive numbers here, and 129 million people according to your plans, according to your calculations. 129 million people either lose their insurance or have to get much higher premium insurance. is that true? how'd you get there? >> well, that is true. spinners like david axelrod have been claiming that this problem will only affect 5% of americans. the people that are getting nongroup coverage. that's not true. that's absolutely false. this problem of losing coverage is going to affect employer -- people with employer-based plans as well. now, out of that 129 million, only 18 to 50 million actually will lose their plan and have to start from scratch. but the rest will be ending up buying more expensive coverage because they have to pay for it. >> those are big numbers, chris. the top of the ranges are huge potential numbers. and then your second point, which is coming out this memo that nbc got, the obama administration now realizes premium increases may be just as d
exchange today. we have michael yoshikami at the new york stock exchange, also a cnbc contributor, steve saks, michael hennessey is out in the stratosphere somewhere. >> he's with me. >> i thought he was. good see you all. >> michael, here we go again. very strong jobs report on friday. the blue chips at least liked it but the secondary stocks, the small caps, have been suffering lately. what's going on in this market, do you think? >> i like the sendingary stocks. of the beta stocks have rallying. look at tesla, i realize there's fires going on there but secondary stocks have had huge rallies. i think what you're going to start to see as fundamentals, granted, on the slow basis, start to improve you'll see core stocks continue to pick up momentum. >> maria? >> neil hennessey, what about momentum? they have been driving the day all this year and then when they started to roll over the last couple of weeks. would you put new money in the market now and where are the groups that lead, if in fact we were to see the rally continue? >> if you're not in the market at all, you should be committ
a new job. it's in private equity but there's a great backstory here. steve liesman has it next. and mother nature unleashing her fury in italy. look at that, a major eruption under way on the island of sicily, that's mount etna. blasting away for the first time since 1992. frightening pictureses from illinois. we'll have the details on the damage of a wave of tornadoes caused there in the heartland yesterday. they're still cleaning up this afternoon. more "power lunch" when we return in two minutes. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> a huge eruption, that's italys's mount etna
high could this market know? should we be getting in now? steve grasso and jonathan corpina. steve, what happened at the end of the day? walk us through how this market has been just -- >> everyone's been buying into this market, of course. waiting for that pullback to happen. when that happens, you get the shorts that are just waiting, waiting, waiting to cover. and then as they start to creep up to those round numbers, they do cover. that's the last leg of it. so right now i feel like year end, as bob said, seasonally bullish. i don't know right here. i feel like we're due for a pullback like everybody else. the problem is december 13th you get those budget hearings. that could be a catalyst. that could be a tail wind for the market to go higher. we're running out of daylight before year end for that selloff. >> jonathan, you both have seen, you know, ups and downs in this market. how does it feel to you in terms of the health of this market and, of course, the sustainability of this rally? >> right. the higher this market goes, we keep having these conversations of when is the p
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